Should I use the martingale strategy to bet?
In this article, we will give our views about the martingale, a system originally used in casinos, and which over time has become popular among bettors who like to use it to bet on their favorite sports.
Is the martingale system a safe way to win?
Simply put, no. Let's find out why it is not recommended to apply the martingale strategy when betting on sports.
Martingale is a gambling strategy commonly used in casinos which requires to double your stake after every loss, so that the first winning bet recovers all previous losses plus win a profit equal to the original stake. It is usually used to play on red-black on the roulette game.
Martingale may look like a safe way to earn money, at least to casual bettors. Because most people believe it is unlikely to lose 8, 9 or 10 bets in a row. If we imagine a bettor with a bankroll of 1,000 euros, let us see how a martingale system applied to sports betting would look like.
Our bettor will choose to bet only on odds of 2.00. He starts with a stake of 10 euros played on a football match at odds of 2.00. And it is a losing bet. His second stake will be 20 euros played on a different match at odds of 2.00. Again, the bet is lost. His third bet will be of 40 euros on odds 2.00 so he can potentially get a net gain of 40 euros, minus 30 euros lost earlier, so a total benefit of 10 euros.
Luckily, our bettor's third bet is winning and he ends up cashing in a net benefit of 10 euros for a 70 euros total investment (10 + 20 + 40). The problem is, if we imagine a consecutive loss of 6 bets, the total stake would be 10 + 20 + 40 + 80 + 160 + 320 = 630 euros for a potential 10 euros net profit. Would you risk 630 euros to win just 10 euros?
Remember that losing 6 bets in a row is not rare. If we exclude value bets from our system, odds of 2.00 do not mean 50% of chance to win but more commonly 45%, more or less depending of the margin left by your bookmaker. A value bet is a different matter but we have to be honest, most bettors do not play value bets when using the martingale system, quite the opposite they very often rush their next bet to chase their previous losses. Value is the last thing on their mind.
Remember that while a losing streak might eventually end, you might not be able to continue using the martingale because your bankroll will not allow you to double your stakes forever. Such strategies are usually praised by casual punters who have enjoyed short-term success. This is a system to forget if your goal is to become a long-term successful bettor.
Through this article, we also remind you that Betkeen is a betting exchange platform owned by Easysportbet and shared between our users. It is an exclusive service with the best payout rate of the gambling industry, ideal for sports betting and sports trading. If you have ever thought about accessing Betfair, Matchbook, Smarkets to become a soccer trader, tennis trader or an expert on horse racing, you might know what a betting exchange is. If not, please refer to the following article: Betting exchange FAQ.